Job Vacancy: Head of Life Underwriting at Leadway Assurance Company Limited

 The Head, Life Underwriting is responsible for leading and transforming the Life Underwriting function into a strategic risk selection and portfolio governance engine for the Life business.

The role works to position underwriting as a strategic partner to the business to actualize the following:

Ensure disciplined risk assessment and selection in line with underwriting guidelines and defined risk appetite

Strengthen underwriting governance, pricing integrity and portfolio quality

Drive alignment between underwriting decisions and profitability objectives

Supervise and provide strategic direction to the Underwriting team in the day-to-day discharge of their functions

Approve underwriting cases above Team Lead limits and oversee complex/high-value risks

Ensure adherence to regulatory and internal policy requirements

Collaborate closely with Actuarial on pricing assumptions, experience monitoring and IFRS 17 performance

Provide portfolio insights to Claims, ERM and the Reinsurance team

Drive underwriting automation and digital risk assessment tools

This senior role will enable the company to meet its growth and profitability objectives through strong risk management discipline and operational excellence.

These objectives will be achieved through effective:

Continuous review and enhancement of underwriting guidelines and authority frameworks

Strengthening underwriting controls and governance structures

Embedding data-driven portfolio monitoring and reporting

Driving digital underwriting initiatives and workflow optimization

Workforce planning and technical capability development

Key Accountabilities (Duties and Responsibilities)

Perspective % Weight Output

Technical Responsibilities 40%

Ensure underwriting discipline supports target loss ratios and portfolio profitability

Monitor portfolio performance metrics including acceptance rates, loadings, declines and rating adequacy

Collaborate with Actuarial to review emerging experience trends and assumption deviations

Escalate material risk concentrations and exposure concerns to leadership

Support Finance and Actuarial with accurate underwriting data for IFRS 17 and experience investigations

Proactive management of underwriting-driven insurance service expenses (e.g. medical exams, facultative premiums, benefit loadings). Tracked through ISR

Ensure implementation of loss ratio and ISR insights into quote and renewal decisions.

Internal business processes 25%

Strengthen underwriting adjudication processes and ensure adherence to underwriting guidelines and delegated authority limits.

Approve underwriting cases within authorized limits and recommend excess cases for higher approval

Periodically review and update underwriting manuals

Embed quality assurance reviews and internal audit controls

Drive digital underwriting initiatives including workflow automation and rule-based systems

Collaborate with Claims and ERM to close feedback loops on risk selection

Customer 20%

Ensure underwriting decisions are delivered within agreed Turn Around Time (TAT)

Provide technical underwriting support to Sales, Brokers and Distribution teams

Balance customer experience with sound risk management principles

Support resolution of escalated underwriting disputes or complex cases

Learning and growth 15%

Identify technical knowledge gaps and implement targeted training programs

Encourage professional certifications (ACIIN or equivalent)

Develop underwriting specialists across Retail, Group Life and Annuity lines

Drive succession planning and technical depth within the team

Job Dimensions Reporting Relationships: jobs that report to this position directly and indirectly 

Direct Reports

Underwriting Team Leads

Senior Underwriting Analysts

Indirect Reports

Analyst

Underwriting Officers

Underwriting Intern

NYSC 

Stakeholder Management: key stakeholders that the position holder will need to liaise/work with to be successful in this role.

Internal

Management team

Various functional heads within the business division

Employees across all cadres

Branch business

Associate companies

External

Regulators within the insurance industry

Reinsures broker/Reinsures 

Decision Making Authority /Mandates/Constraints: the decisions the position holder is empowered to make

Review and approve underwriting cases within authorized limits

Recommend cases exceeding delegated authority for executive approval

Escalate material guideline breaches or exposure risks

Recommend updates to underwriting guidelines and authority structures

Initiate process and system improvement within the underwriting function 

Work cycle and impact: time horizon and nature of impact (Planning)

This role has various work cycle and impact grouping:

Daily engagements: Oversight of underwriting decisions, escalations and TAT monitoring

Monthly cycle: Portfolio performance review, underwriting metrics and exception reporting

Quarterly reviews: Experience analysis, guideline updates and risk appetite alignment

Performance review: Team capability assessment and development planning

Project management: Digital underwriting initiatives, system upgrades and automation projects

Ideal Job Specifications

Academic:

Bachelor’s degree / HND in Insurance, Actuarial Science, Finance or related field

Master’s Degree is an added advantage

Professional qualification in CIIN (ACIIN/FCIIN) or other recognized Insurance professional Institutions 

Desired work experience:

Minimum of 10 years’ experience in Life underwriting

At least 5 years in a managerial/senior leadership role

Strong exposure to Retail Life, Group Life, Annuity and Credit Life underwriting

Experience working within reinsurance treaty structures (case referrals via Reinsurance team)

Exposure to IFRS 17 experience analysis and profitability monitoring

Strong understanding of risk-based pricing principles

Exposure to digital underwriting systems and automation initiatives 

Ideal Job competencies

Strategic Thinker

Understands the overall ambitions/strategy of the organization and aligns claims performance to profitability and risk management objectives

Good execution skills

able to implement strategies by thinking through steps of implementation, taking operational decisions, and putting personal effort as needed

Analytical and problem-solving skills

Uses data and insights to detect trends, mitigate risks and improve decision-making

Visionary Leader

Positions underwriting as a growth enabler while protecting capital

Facilitator

Drives collaboration between Underwriting, Actuarial, Claims and Distribution

Trainer/coach

Able to transfer knowledge, provide learning interventions and professional coaching where applicable

Team Leader

A strong leader and transformer of teams, able to break internal barriers, integrate new talent and motivate high performance

Initiative

Proactively drives improvements and influences stakeholders across the business

Change manager

Understands how to engage stakeholders in designing and delivering change while managing impact on systems and processes 

Behavioural Competencies

Results and Achievement Oriented

Strives to achieve results and welcomes performance measurement and accountability

Good Selling and Negotiation Skills

Strong negotiator, particularly in engaging stakeholders and driving change

Good leadership & Interpersonal Skills

Encourages enthusiasm, collaboration and team spirit

Flexible and adaptable

Ability to adjust to changing trends and remain effective when faced with new challenges

Required Educational Level: Graduate, Professional, Masters

Experience Level: 10 Years And Above

Job Type: Onsite

Job Role Type: Full-time

location: Lagos

Skills Required: Integrity , Service , Openness , Respect For Individuals , Excellence , Critical Thinking , Customer Focus , Strategic Leadership , Achieving Results , Emotional Intelligence , Strategic Business Acumen , Coaching And Mentoring , Diversity And Inclusion , Empathy , Developing People , Esg (environmental, Social & Governance) , Problem-solving , Decision Making , Conflict Management , Change Management , Agility , Strategic Collaboration , Company And Market Knowledge , Planning & Organizing , People/self Management , Negotiation & Persuasion , Customer Centricity , Communication , Financial Acumen , Innovation & Entrepreneurship , Use Of Digital Collaborative Tools , Management Of Information , Insurance Industry Knowledge , Claims Knowledge , Claims Management , Claims Notification & Investigation , Compliance & Operational Risk Knowledge , Computer/statistical Skills , Credit Control & Adjustment Skill , Information/record Administration , Insurance Principles & Practice , Insurance Products And Services , Legal Knowledge , Risk Perception And Assessment , Underwriting And Pricing The Risk , Underwriting Management , Underwriting Process , Customer Service , Reinsurance Management , Claims Recovery , Customer Issue Resolution , Profitability strategies

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